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Can anyone with a legal background explain whether or not this constitutes a breach of fiduciary duty? Related: PennState Law Review "A Brief Introduction to t
by malandrew 9y ago
Can anyone with a legal background explain whether or not this constitutes a breach of fiduciary duty?
Related: PennState Law Review "A Brief Introduction to the Fiduciary Duties of Directors Under Delaware Law"
http://www.pennstatelawreview.org/116/3/116%20Penn%20St.%20L.%20Rev.%20837.pdf http://www.pennstatelawreview.org/116/3/116%20Penn%20St.%20L...
- valuearb 9y agoThere is no fiduciary duty to allow other shareholders to sell shares. There can be a fiduciary duty to stop it, if it damages the company value. For example, I imagine any sold shares will lower Uber's stated valuation by more than half.
- grizzles 9y agoNah, this sort of hardball shit happens all the time. It's called greenmail. What's unusual is that it doesn't usually in companies of this size & success. For a company like Uber that has nothing proprietary & well funded competitors, they are kind of playing with fire imo. Bad publicity is the last thing Uber needs. Could you imagine if this went to trial?